Financial literacy has been a long-standing issue within the African-American community. Factors vary such as lack of education when it comes to finances, low employment rates, a disparity in income compared to other economic groups, and poor spending habits. Oddly enough, the African-American community possess a formidable buying power— spending upwards of $1 trillion dollars or more a year! When it comes to circulation within communities, a dollar can last 30 days in an Asian community, 20 in a Jewish community, 17 in a White community, but only 6 hours in the Black community.

Something about those numbers doesn’t add up and it is apparent across the nation. From new graduates frightened about paying back student loans— to home owners struggling to pay their mortgage, there are many reasons to become financially literate and the Orlando based Washington Law Firm is committed to empowering their clients and their community with the knowledge to better their lives.

“Breaking the chains of debt” Erik and Julie Washington have catered their lives to not only representing their clients but also educating them on a brighter financial future. Based in Central Florida, the Washington Law Firm specializes in representing their clients on personal or business financial matters. With a strong emphasis on consumer and business bankruptcy matters, the law firm helps with reorganization under Chapter 11 and Chapter 13, as well as liquidation under Chapter 7.

Predatory lending in the banking industry which led to the economic downturn in 2008 substantially contributed to the financial hardship of many. Many first-time buyers entered the marketplace to purchase because of low-interest rates and skyrocketing home values. Taking advantage of creative lending products, many took out interest-only loans, which created financial difficulties when their rates finally adjusted. Some circumstances may be unforeseeable; a death or illness, or an unexpected accident could easily land someone in a financial bind that requires professional help. Luckily Erik and Julie Washington have made it a priority to help those in need.

Obtaining his B.S. in Business Administration from Florida A&M University, Erik Washington then went on to earn his Juris Doctor from the Law program of the same institution. Washington jump-started his career with a concentration in family and bankruptcy law, helping clients with estate planning and probate matters.

The Power of Giving Back

Not only do the couple cater to legal needs, they also lend their hand to philanthropic needs as well! The Washington Law Firm will be hosting their Mystery Mansion Masquerade Ball, August 12th at a mystery location in Orlando. The event helps raise awareness and funding for My Haitian is Beautiful Inc. The non-profit gives education assistance to girls in impoverished villages in Haiti. Ticket purchases include hors d’oeuvres, cocktails, an open bar, entertainment, and complimentary transportation to the mystery location. Most importantly, party goers have the opportunity to contribute to a great cause.

Whether you are just starting out or already finding yourself in a bind, seek financial help from a professional who has your best interest in mind. From better spending habits to growing generational wealth, money serves various purposes, but most importantly Erik and Julie believe it should serve you.

To learn more about The Washington Law Firm, you can visit their website at: www.washfirm.com/